Koch Disruptive Technologies Research
Investment Thesis
Koch Disruptive Technologies (KDT) is the venture and growth equity investment arm of Koch Industries, one of the largest privately held companies in the world with revenues exceeding $115B annually. Founded in 2017 by Chase Koch (son of Charles Koch), KDT was established to identify and partner with companies that possess extraordinary potential to disrupt existing markets. KDT positions itself as a "growth accelerator" rather than a traditional VC — providing not just capital but direct access to Koch Industries' vast industrial ecosystem, global commercial partners, and subject matter experts.
KDT's core thesis rests on identifying principled entrepreneurs building transformative technologies across eight core sectors. The firm seeks companies that can benefit commercially from Koch's industrial footprint, leveraging what KDT calls the "Koch as a lab" model — using Koch's own businesses as early customers and proving grounds for portfolio company technologies.
A key KDT differentiator is Koch Labs®, a dedicated internal capability connecting portfolio entrepreneurs to Koch's ecosystem of subject matter experts, global businesses, and commercial partners. This gives KDT portfolio companies a commercial distribution advantage that traditional VCs cannot replicate.
Sector Focus
KDT invests across eight primary sectors:
- Connectivity: Network infrastructure, wireless technology, broadband satellites, IoT platforms — including Alkira (cloud networking), Astranis (broadband satellites), Cohere Technologies (OTFS/6G wireless), Nile (network-as-a-service), and Weavix (frontline IoT)
- Cyber Security: Enterprise and OT security, API security, endpoint management — including Dragos (OT security), Snyk (developer security), Automox (cloud endpoint), CYREBRO (managed SOC), Strider (geopolitical IP risk), Beyond Identity (passwordless auth), OneLayer (private 5G security), and Wib (API security, acquired by F5)
- Enterprise Software: Business automation, AI agents, quantum computing, logistics software — including Sema4.ai (enterprise AI agents), Via (transit software), Volumez (composable data infrastructure), QC Ware (quantum software), OnRamp (AI customer onboarding), and Bodo (parallel Python computing)
- Healthcare: Digital health, biotech, medical devices, drug discovery, cell therapy manufacturing — including INSIGHTEC (MRI-guided focused ultrasound), Artera AI (AI cancer therapy personalization), Cellares (cell therapy manufacturing), Valo Health (AI drug discovery), Immunai (single-cell genomics), Rula (mental healthcare), Sidecar Health (employer health insurance), Resilience (biopharmaceutical manufacturing), and SHINE (nuclear medical isotopes)
- Semiconductors: AI accelerators, photonics, advanced computing hardware — including Rivos (RISC-V AI compute), Speedata (analytics chip), Pliops (data center optimization), Vayyar (4D imaging), proteanTecs (electronics visibility), Teramount (optical interconnects, acquired by Molex), Polaris Electro-Optics (optical modulators), and Celestial AI (AI infrastructure photonics, acquired by Marvell)
- Supply Chain & Manufacturing Tech: Autonomous logistics, procurement automation, industrial robotics, fulfillment — including Gatik (autonomous middle-mile), Outrider (autonomous yard operations), Optimal Dynamics (AI logistics optimization), SVT Robotics (robot integration platform), Gideon Brothers (material handling robotics), Greeneye Technology (AI precision agriculture), Fabric (robotic fulfillment), Trackonomy (end-to-end shipment visibility), Percepto (industrial inspection robotics), and Arkestro (predictive procurement)
- Energy: Advanced batteries, superconductors, nuclear fusion, lithium production — including BlueCurrent (solid-state silicon batteries), Standard Lithium (sustainable lithium extraction), MetOx International (high-temperature superconducting wire), and SHINE (fusion energy)
- Fintech: Consumer rewards, insurance comparison, crypto platforms, consumer credit — including Ibotta (mobile rewards platform, IPO), Upgrade (consumer fintech), The Zebra (insurance comparison), Paradigm (crypto derivatives network), and OneOf (NFT music platform)
Stage Focus
KDT is explicitly stage-agnostic, investing from Seed through late-stage growth:
- Led a $150M Series E (INSIGHTEC, 2018)
- Led a $50M Series A (Teramount, 2025)
- Led a $15M Series A (OnRamp, 2025)
- Led an $18M Seed round (Lucidean, 2025)
- Primary sweet spot appears to be Series A through Series C growth stage
KDT's portfolio covers the full spectrum from early seed to pre-IPO, consistent with their corporate venture model deploying from Koch Industries' balance sheet rather than a fixed-term fund.
Check Size
Typical investment range: $5M–$150M+ per deal, with check sizes adapting to the opportunity. Based on confirmed deals, typical growth-stage checks run $15M–$50M. KDT has flexibility to deploy larger amounts (led $150M Series E) for strategic opportunities.
Lead Tendency
KDT actively leads rounds. Confirmed lead investments include:
- Orderful Series C (June 2026)
- Lucidean $18M Seed (December 2025)
- OnRamp $15M Series A (November 2025)
- Teramount $50M Series A (2025)
- INSIGHTEC $150M Series E (2018)
KDT also takes co-investor positions in strategic sectors (Blue Current Series D Extension, OneLayer Series A).
Recent Activity
KDT added 8 new portfolio companies in 2025 and made its first confirmed 2026 investment in June. They are actively deploying capital and realized multiple significant exits in 2025–2026.
Recent investments:
- June 2026: Led Orderful's Series C (EDI/supply chain software)
- December 2025: Led Lucidean's $18M Seed (advanced photonics/materials)
- December 2025: Participated in BlueCurrent's $80M+ Series D Extension (solid-state batteries)
- November 2025: Led OnRamp's $15M Series A (AI customer onboarding)
- October 2025: Participated in OneLayer's Series A (private 5G network security)
- 2025: Led Teramount's $50M Series A (optical fiber interconnects)
- 2025: Supported Neura Health's $11.4M Series A (virtual neurology)
Recent exits:
- Celestial AI acquired by Marvell Technology (2025)
- Teramount acquired by Molex (2026)
- Via IPO announced (2025)
- ForAllSecure/Mayhem acquired by Bugcrowd (2025)
- Wib acquired by F5 Networks
Portfolio Highlights
KDT has deployed $4B+ across 70+ portfolio companies (78 per Caplight). Notable portfolio companies include:
- Dragos: Global leader in OT/ICS cybersecurity protecting industrial infrastructure
- Snyk: Developer-first security platform at multi-billion dollar valuation
- Ibotta: Consumer mobile rewards platform that completed an IPO
- Via: Transit software platform that announced IPO (2025)
- Gatik: Autonomous middle-mile logistics with $600M+ in contracted revenue
- Outrider: Autonomous yard operations, first-ever safety-certified autonomous truck system
- Celestial AI: AI infrastructure photonics (acquired by Marvell, 2025)
- Teramount: Next-gen optical fiber interconnects (acquired by Molex, 2026)
- Sema4.ai: Enterprise AI agents platform (Koch is also a deploying customer)
- INSIGHTEC: MRI-guided focused ultrasound surgery
Team
- Chase Koch — Founder; now Executive Vice President of Origination & Partnerships at Koch Industries; founded KDT to apply Koch's philosophy to portfolio companies
- Byron Knight — President | LinkedIn: https://www.linkedin.com/in/byron-knight/
- Brendon Durkin — Managing Director | LinkedIn: https://www.linkedin.com/in/brendondurkin/
- Celeste Dauner — Managing Director | LinkedIn: https://www.linkedin.com/in/celeste-dauner-19b54417a/
- Jon Chisholm — Managing Director | LinkedIn: https://www.linkedin.com/in/jon-chisholm-2892046/
- Isaac Sigron — Managing Director, KDT Israel | LinkedIn: https://www.linkedin.com/in/isaac-sigron-aa809b35/
- Edward Metelitsa — Director | LinkedIn: https://www.linkedin.com/in/metelitsae/
- Emerson James — Director (Growth Equity & Venture Capital) | LinkedIn: https://www.linkedin.com/in/emerson-james-3618407a/
- Keaton Goedert — Director | LinkedIn: https://www.linkedin.com/in/keaton-goedert-0057a829/
- Spencer Champlin — Director | LinkedIn: https://www.linkedin.com/in/spencer-champlin-40386b4b/
- Aliza Goldberg — Associate, KDT Israel | LinkedIn: https://www.linkedin.com/in/aliza-goldberg123/
- Reed Aldridge — Associate | LinkedIn: https://www.linkedin.com/in/reed-aldridge-001386b9/
- Trevor Cumpston — Analyst | LinkedIn: https://www.linkedin.com/in/trevorcumpston/
Decision Process
KDT operates with an investment committee structure typical of a corporate venture arm. The team includes a President (Byron Knight), multiple Managing Directors, and Directors who underwrite and evaluate opportunities. Final decisions are made by investment committee. Chase Koch as Founder/EVP at Koch Industries provides strategic direction and major deal review.
Geographic Focus
Primarily US-focused (headquartered in Wichita, Kansas at Koch Industries HQ: 4111 E 37th St N). KDT has a dedicated Israel office (KDT Israel) led by Managing Director Isaac Sigron and Associate Aliza Goldberg, reflecting meaningful investment activity in Israeli deep tech. Portfolio companies also include UK and European presence through Koch's global industrial network.
Founder Preferences
KDT specifically seeks "principled entrepreneurs" — founders aligned with Principle Based Management® (PBM) philosophy emphasizing mutual benefit, long-term value creation, and entrepreneurial virtues. They back deep technical founders with demonstrated products and initial commercial traction who can leverage Koch's industrial ecosystem as early customers or commercial distribution partners. KDT particularly values companies where Koch's own operating companies could be customer/partners — accelerating go-to-market through Koch's global B2B relationships.